By Gautham Nagesh - 03/17/11 04:08 PM EDT
The New York Times became the largest American newspaper on Thursday to begin charging for online content, launching a $15 a month digital subscription plan for Web users.
"Our decision to begin charging for digital access will result in another source of revenue, strengthening our ability to continue to invest in the journalism and digital innovation on which our readers have come to depend," said publisher Arthur Sulzberger Jr. in a release.
Users will be able to access up to 20 articles on the Times' website every month for free before they are asked to become digital subscribers. Users that attempt to view stories through search engine results or social media platforms will still be able to do so after they've reached their monthly limits.
Print subscribers will receive online access at no additional charge, while users of the Times' iPad app must pay an additional five dollars per month. A full digital subscription including access to both the smartphone and tablet app costs $35 per month.
Initial public reactions to the news on Twitter appear mixed, but the market appreciates the move: New York Times Co. shares are up more than 5 percent at the time of this posting.